Ok, LTC gave us a hard time here, which is disappointing, because it had a lot of potential (still has, but we should wait a little more). You guys know that I bought LTC for the first time at U$ 41.40, sold half of position around U$ 45, and bought recently bought again at U$ 48.63. All the links of our trades are below and follow me to keep updated.
I said that I wasn’t going to lose money here, and I didn’t. I put a stop order at my average entry price (precisely at U$ 45.15) and now I’m out. Since I was afraid of a mini crash during the weekend, I did a very successful hedge using BTC, and I manage to get some profits from it, check it in the link below.
Now, what to expect? Let’s look at the hourly chart:
The price did a nice bull trap here. It closed above that black line, which was my criteria to buy more, and failed completely in keeping the price up. Well, it happens. Now it did a triple bottom and the bulls should react quick, because if the price loses that bottom the next stop will be inside the “support zone” in the daily chart, and the price could sink to U$ 37 again.
Still looking at the daily chart, it’s hard to tell what could happen below that level, but we can assume some of the pink lines will do the job. Other than them, only the black line at U$ 25.23 will remain.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
I said that I wasn’t going to lose money here, and I didn’t. I put a stop order at my average entry price (precisely at U$ 45.15) and now I’m out. Since I was afraid of a mini crash during the weekend, I did a very successful hedge using BTC, and I manage to get some profits from it, check it in the link below.
Now, what to expect? Let’s look at the hourly chart:
The price did a nice bull trap here. It closed above that black line, which was my criteria to buy more, and failed completely in keeping the price up. Well, it happens. Now it did a triple bottom and the bulls should react quick, because if the price loses that bottom the next stop will be inside the “support zone” in the daily chart, and the price could sink to U$ 37 again.
Still looking at the daily chart, it’s hard to tell what could happen below that level, but we can assume some of the pink lines will do the job. Other than them, only the black line at U$ 25.23 will remain.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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